18th Sep 2015 08:13
LONDON (Alliance News) - The Black Sea Property Fund Ltd on Friday said it swung to a pretax loss in the half to the end of June as gains it made on property sales last year did not repeat.
The Bulgaria-focused property fund, shares in which were suspended recently after it failed to implement its investing policy in line with AIM rules, said its pretax loss for the six months to the end of June was GBP233,175, compared to a GBP32,057 profit a year earlier.
The results in 2014 were boosted by the company making a GBP564,446 gain on the sale of its investment properties, which did not repeat.
The company said it sees positive trends in the Bulgarian real estate sector, with opportunities for the company to acquire assets in line with its investing policy and to have trading in its shares restored.
By Sam Unsted; [email protected]; @SamUAtAlliance
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